Frontken Corporation Berhad 200401012517 (651020-T) • ANNUAL REPORT 2022 144 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) 25. TRADE PAYABLES, OTHER PAYABLES AND ACCRUED EXPENSES (CONT’D) (c) Defined benefit plan – Indonesia (Cont’d) Actuarial gains recognised directly in other comprehensive income: The Group 2022 2021 RM RM Actuarial gains recognised during the year 50,925 44,947 The Group defined benefit plan based on the actuarial valuation performed by an independent actuary adopting the Projected Unit Credit method, with the following principal actuarial assumptions: The Group 2022 2021 i) Retirement age 55 55 ii) Disability rate (per annum) 1% of 1% of mortality rate mortality rate iii) Discount rate (per annum) 6.70% 5.85% iv) Expected rate of salary increases (per annum) 8.00% 8.00% The Group 2022 2021 (Decrease)/ (Decrease)/ Increase Increase Effect on defined benefit obligations RM RM Discount rate (per annum) - strengthened by 1% (12,598) (16,381) - weakened by 1% 14,155 18,406 Expected rate of salary increases (per annum) - strengthened by 1% 17,391 21,719 - weakened by 1% (15,428) (19,522)
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